1 Group structure and shareholders

1.1 Group structure

1.1.1 Description of the operative Group structure

The Liechtensteinische Landesbank is structured as an «Aktiengesellschaft» according to Liechtenstein law. It is the parent company of the LLB Group. The LLB Group is therefore based on a parent company structure.

The Group regulations ensure a centralised management of the LLB Group.

The Group regulations, approved by the Liechtensteinische Landesbank's Board of Directors, ensure a proper conduct of business, a practical organisational structure, and a centralised management of the LLB Group. This is provided by the Group Board of Directors and Group Internal Audit, the Group Executive Management Board, the Board of Directors committees of the LLB Group companies and the Group Service Centre.

The Group Board of Directors and Group Executive Management Board are composed of the same persons who comprise the LLB parent company's Board of Directors and Board of Management. Within the scope of the powers and duties vested in them by the Group regulations, the LLB Group functions can, for example, make decisions and give instructions which are binding not just for the parent company but also for the LLB Group companies – but taking into consideration the provisions of local law applicable to the individual Group companies.

Members of the Board of Management of Liechtensteinische Landesbank are represented on the Boards of Directors of the consolidated companies. Either the Chairman (CEO) or a member of the Board of Management of Liechtensteinische Landesbank serves as the Chairman of the Board of Directors of the subsidiary companies. The boards of swisspartners Investment Network AG and Bank Linth LLB AG are exceptions to this rule.

The organisational structure of the LLB Group on 1 January 2009 is shown in chapter The LLB Group. The detailed segment reports are shown in chapter Review of Operations.

1.1.2 Listed companies included in the scope of consolidation

 Download Excel

Company

Reg.
office

Listed on

Market
capitalisation
(in CHF thousands)

Stake (in %)

Security
number

ISIN number

Liechtensteinische
Landesbank AG

Vaduz

SIX
Swiss Exchange

1'555'400

 

3019524

LI0030195247

Bank Linth LLB AG

Uznach

SIX
Swiss Exchange

315'718

74.2

130775

CH0001307757

The Liechtensteinische Landesbank, with its registered office in Vaduz, is listed on the SIX Swiss Exchange. As at 31 December 2008, its market capitalisation stood at CHF 1.6 billion (30'800'000 bearer shares having a nominal value of CHF 5.– at a year-end closing price of CHF 50.50).

Bank Linth LLB AG, Uznach, in which the Liechtensteinische Landesbank holds a majority equity stake of 74.2 percent, is also listed on the SIX Swiss Exchange, Segment «Local Caps», (security number: 130775, ISIN number: CH0001307757, symbol: LINN). As at 31 December 2008, its market capitalisation stood at CHF 315.7 million (805'403 registered shares having a nominal value of CHF 44.– at a year-end closing price of CHF 392.–).

1.1.3 Unlisted companies included in the scope of consolidation

Details of the unlisted companies included in the scope of consolidation (company, activity, registered office, share capital and equity interest) can be seen in the Notes to the financial statement of the LLB Group in the table «Scope of consolidation».

1.2 Major shareholders

The Principality of Liechtenstein is our majority shareholder and currently holds 57.5 percent of the LLB's shares.

The Principality of Liechtenstein is the majority shareholder of the Liechtensteinische Landesbank. In accordance with the Law concerning the Liechtensteinische Landesbank, in terms of capital and voting rights, the Principality of Liechtenstein must hold at least 51 percent of the shares.

At the end of 2008, the Principality's participation remained unchanged at 57.5 percent. Detailed information about the development of the Principality of Liechtenstein's equity stake in the Liechtensteinische Landesbank can be obtained at www.llb.li/capital+structure.

The remaining bearer shares are held by a broad section of the general public. There are no binding shareholder agreements.

1.3 Cross participations

There are no cross participations between the Liechtensteinische Landesbank and its subsidiaries or other companies.